The number of Americans filing for new unemployment benefit claims has decreased slightly, according to data from the U.S. Labor Department.
“In the week ending May 21, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 8,000 from the previous week’s unrevised level of 218,000. The 4-week moving average was 206,750, an increase of 7,250 from the previous week’s unrevised average of 199,500,” a May 26 press release by the department stated.
The 8,000 claims decrease in the week ending May 21 partially offset the 21,000 claims increase seen for the previous week ending May 14.
Initial claims continue to remain at historically low levels, suggesting a strong labor market. The more-than-expected fall in jobless claims was due to weekly volatility, economist Eliza Winger told Bloomberg….